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Ferrous Metals Prices Rise, Driving Up Operating Rates of Galvanising Producers [SMM Galvanising Weekly Review]
Feb 28, 2025, at 7:45 am
[Ferrous Metals Prices Rise, Driving Up Operating Rates of Galvanising Producers]: This week, the operating rates of galvanising producers reached 57.23%, a WoW increase of 2.95 percentage points. In terms of raw material inventory, zinc prices fell to levels more acceptable to downstream enterprises this week, leading to more downstream enterprises pricing at low points, and zinc ingot inventory increased significantly...
SMM, February 28: This week, the operating rate of galvanizing producers recorded 57.23%, up 2.95 percentage points WoW. In terms of raw material inventory, zinc prices fell to levels more acceptable to downstream enterprises, leading to an increase in spot pricing at lower levels and a significant rise in zinc ingot inventories. The main reasons for the rebound in operating rates this week are as follows:
For galvanized pipes, after the pullback in ferrous metals prices this week, a subsequent rise triggered a "rush to buy amid continuous price rise and hold back amid price downturn" phenomenon among traders. Coupled with relatively low finished product inventories at the terminal, many galvanized pipe traders restocked, resulting in good sales volumes for galvanized pipes. This led to increased operating rates at galvanized pipe factories, which are mostly large-scale producers, significantly driving up the overall operating rate. Finished product inventories also increased.
For galvanized structural components, steel tower orders were relatively weak compared to the same period last year, and tender projects still require time to be implemented in galvanizing. Orders for guardrails, lamp rods, and other products depend on feedback from end-users, and actual consumption recovery still requires time. In Tianjin and Hebei, no environmental protection-driven production restrictions related to the Two Sessions have been reported, and enterprises are maintaining normal production schedules. The operating rate is expected to maintain a fluctuating trend next week, rising to around 58.26%.
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